Dar es Salaam — The Tanzania Investment Centre (TIC) yesterday received investors from Guangzhou and Dongguan cities in China, who are keen on establishing a leather manufacturing factory at Mlandizi industrial park in the Coast Region.
Speaking to journalists at a press conference held at the centre' head offices, the TIC director of Investment Promotion, Mr John Mnali, said the investors had invested at least $100 million as initial capital.
He further revealed that the investment would also involve the construction of mobile phone and watch factories at the park.
According to him, the processed leather will be used to manufacture various goods such as belts, furniture and shoes, among others.
"Today we are grateful to receive these investors. On behalf of TIC, I can assure them that we are committed to finalising the project's registration process including issuance of permits to make this project successful," Mr Mnali said.
He added: "I also urge relevant government authorities to cooperate with TIC in order to make sure that the investors are provided with requisite incentives as soon as possible."
Mr Mnali added that the development would benefit local stakeholders as they would be able to sell raw leather to the factory.
For his part, the leader of the Chinese delegation, Mr Mohammed Kiluwa, who is the managing director of Kiluwa Group Company Limited expressed optimism that completion of the factory would accelerate the country's economic growth and create direct and indirect jobs for Tanzanians. He further revealed that the Chinese investors were also keen on establishing cashew nuts processing factories in the future.
"The investors will leave the country for China tomorrow, but they will come back after three weeks," he said.
They will also be interested to survey across the country and learn about cashew nuts business," he said.
"The investors will leave the country for China tomorrow, but they will come back after three weeks. They will also be interested to survey across the country and learn about cashew nuts business," he said.